- On Sunday, April 5, traders sold a large amount of ETH.
- Most likely, the growth will be on April 1st $2,168 turned out to be a bull trap.
- Experts do not rule out that in the future Ethereum will fall in price to $1,400.
The Ethereum price began to fall on April 5th, so it would be worthwhile to figure out to what level it might continue.
On Sunday, the ETH market revived after a lull since April 2. Traders sold a relatively large number of coins, and their price down by 1% in less than half an hour, reaching $2,028.
If the bearish trend continues, then, as chartist under the pseudonym Crypto Lens believes, the cryptocurrency rate risks to fall to $1,400 next week. He believes that Ethereum’s price rally, which ended at $2,168 on April 1, was a bull trap designed to force traders to buy digital assets.
To build on this, the bears will need to break through the support barrier, which is the lower line of the ascending channel that has been forming since early February. It currently stands at $1,970, meaning sellers only need to push the asset’s price down 3,3% from its current value. If this barrier is breached, the downward movement will accelerate, and Ethereum’s price will likely bottom.
Ethereum price likely to breakout below the lower boundary of the ascending channel
Crypto Lens predicts that ETH will fall to $1,400, as the bearish trend stalled there in April 2025. However, it’s possible that the downward trend will peter out when the cryptocurrency falls to $1,500-$1,550, as this range was home to a support zone that held successfully from August to October 2023.
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